WHEAT

- Jan 20 - Syria's Hoboob seeks 200,000 MT of soft wheat from Russia

- Dec 19 - Taiwan Flour Millers' Association seeks 104,600 MT of US milling wheat

- Dec 18 - Ethiopia seeks 75,000 MT of optional-origin milling wheat

- Dec 12 - Japan seeks 171,045 MT of food wheat for Jan-Mar shipments:

  • 32,415 MT of western white US wheat;
  • 28,380 MT of hard red winter US wheat;
  • 25,100 MT of dark northern spring US wheat;
  • 35,095 MT of Canadian western red spring wheat;
  • 50,055 MT of Australian standard white wheat

- Dec 10 - Egypt's GASC bought 355,000 MT of wheat from France (120 TMT), Russia (115 TMT), Ukraine (60 TMT) and Romania (60 TMT) for February 5-15 shipment:

  • 60,000 MT of Ukrainian wheat from Nibulon at 237.47 $/mt c&f (222.50 fob+14.97 freight);
  • 60,000 MT of Romanian wheat from Ameropa at 238.25 $/mt c&f (224.70 fob+13.55 freight);
  • 120,000 MT of French wheat from Glencore at 238.34 $/mt c&f (220.30 fob+18.04 freight);
  • 55,000 MT of Russian wheat from ADM at 238.35 $/mt c&f (223.00 fob+15.35 freight);
  • 60,000 MT of Russian wheat from Posco at 238.40 $/mt c&f (223.91 fob+14.49 freight)

- Dec 10 - South Korea's Nonghyup Feed Inc. (Nofi) bought 60,000 MT of optional-origin feed wheat from Pan Ocean at 239 $/mt c&f plus a 1.25 $/mt surcharge for additional port unloading for May 1, 2020 arrival  

- Dec 9 - Philippines importers bought around 100,000 MT of feed wheat for Feb 3-April 10 shipment

- Thailand flour millers bought 55,000 MT of US wheat last week for February shipment, including spring wheat at 290-295 $/mt c&f, winter wheat at 255-260 $/mt c&f, and soft white wheat at 250-255 $/mt c&f

- US wheat export inspections for week, ending Dec 5, recorded 313,810 MT, below expectations (250-450 TMT). Inspections for 2019/20 are running 18% ahead of year-ago

- USDA trimmed its forecast of global wheat crop in 2019/20 to 765.41 MMT, up 4.7% (or 34.06 MMT) from the 2018/19. Global production is nearly unchanged as larger crops in China and Russia mostly offset smaller crops in Australia, Argentina, and Canada. Global trade is raised slightly with stronger demand from Turkey and Syria. Higher exports for the European Union, Russia, Turkey, and the United States more than offset smaller projected shipments for Argentina and Australia. USDA upped forecast of 2019/20 world wheat inventories by 1.22 MMT to 289.5 MMT, above the average expectation of 286.18 MMT and vs. 277.85 MMT in 2018/19

- France's farm ministry trimmed its estimate of the country's 2019 soft wheat crop to 39.463 MMT from 39.487 MMT forecasted in November, up 15.9% from last year (34.045 MMT in 2018) and 11.7% above the five-year average. The area sown with winter soft wheat for the 2020 harvest was estimated at 4.729 million hectares, down 4.8% from year ago

- FranceAgriMer lowered its forecast for French soft wheat stocks at the end of the 2019/20 to 2.41 MMT from 2.538 MMT projected last month (2.487 MMT in 2018/19). Projected exports outside the EU raised by 200,000 MT to 12.2 MMT, up 26.2% from 9.668 MMT in 2018/19, while forecast of shipments within the EU trimmed to 8.359 MMT, up 13.5% from 7.368 MMT in 2018/19

- France exported 1.55 MMT of soft wheat in October, the fourth month of the 2019/20 marketing season, including 892,000 MT of soft wheat shipped outside the EU (incl. 209 TMT to Algeria, 196 TMT to Morocco, and 175 TMT to China). Cumulative French soft wheat exports in July-October reached 5.57 MMT, up 10% from the same period last year. Shipments outside the EU were up 6% at 2.97 MMT, while exports within the EU were up 15.6% to 2.6 MMT

- Chinese stats bureau estimated 2019 wheat production at 133.59 MMT, up 1.6% vs. last year's 131.43 MMT

- Statistics Canada lowered its 2019 crop estimate for all-wheat to 32.3 MMT from 32.5 MMT previously, below average market expectation of 32.6 MMT (32.2 MMT in 2018)

- Russia’s Ag Min raised its 2019 grain production estimate from 120 to 121 MMT, now up 7% from 2018 (113.2 MMT). Wheat output is expected at 75 MMT this season, up from 72.1 MMT in 2018

- Coceral raised forecast of EU-28’s 2019 soft wheat crop to 145.035 MMT from 143.26 MMT previosly, up 14% from 126.859 MMT in 2018

CORN

- Dec 17 - Turkey's TMO seeks 300,000 MT of feed barley (25x12 TMT) for Dec 27-Jan 24 shipment

- Dec 11 - Japan received no offers for 120,000 MT of feed wheat and 200,000 MT of feed barley in a simultaneous buy and sell (SBS) auction. New SBS tender for the same amounts for each grain will be held on Dec 18          

- Dec 6 - USDA announced export sales of 245,872 MT of US corn for delivery to Mexico during 2019/20

- US corn export inspections for week, ending Dec 5, reported 481,097 MT, within expectations (400-600 TMT). Inspections for 2019/20 are running 56.8% behind of year-ago

- USDA estimated 92% of the US corn crop was harvested as of Dec 8, behind of expectations (94%), also below last year’s pace (100%) and the 5-year mean (100%)

- USDA raised forecast of global corn production in 2019/20 by 6.46 MMT to 1,109 MMT, down 1.4% (or 15.87 MMT) from last year, with larger crops in China and Bolivia more than offsetting declines in Australia and Canada. Global trade is up from last month with higher imports for Taiwan and Brazil. Exports for Brazil and Paraguay are up but down for Canada, Mexico, and Laos. USDA upped forecast of 2019/20 global corn ending stocks by 4.6 MMT to 300.56 MMT, above the average of trade expectations (295.52 MMT) but down from 319.17 MMT in 2018/19

- France exported 657,000 MT of barley in October (incl. 172 TMT to Saudi Arabia)

- France's farm ministry estimates area sown with winter barley for the 2020 harvest at 1.248 mln ha, down 4.3% from year ago

- France's farm ministry upped estimate of the country's 2019 grain maize crop from 12.566 to 12.59 MMT with yields 8.73 mt/ha, up 0.7% from last year (12.5 MMT and 9.16 mt/ha in 2018) but 10% below the five-year average

- FranceAgriMer lowered its forecast for French corn stocks at the end of the 2019/20 to 2.119 MMT from 2.217 MMT in Nov and vs. 2.049 MMT in 2018/19. France's 2019/20 corn exports are forecasted at 4.099 MMT down from Nov estimate (4.179 MMT) and down vs. 4.211 MMT a year ago

- FranceAgriMer lifted its forecast of France's 2019/20 barley ending stocks to 2.146 MMT from 2.128 MT in Nov (1.324 MMT in 2018/19). France's 2019/20 barley exports (without malt) are forecasted at 7.127 MMT (7.137 MMT – previous forecast) up 15% from year-ago (6.196 MMT in 2018/19)

- Chinese stats bureau estimated 2019 corn production at 260.77 MMT, up 1.4% vs. last year's 257.33 MMT

- Statistics Canada lowered its 2019 corn for grain crop estimate to 13.4 MMT from 14.1 MMT in Sept, behind expectations of 13.7 MMT and down from 2018 (13.9 MMT)

- Statistics Canada raised its 2019 crop estimate for barley to 10.4 MMT from 10.0 MMT in Sept, above expectations of 9.8 MMT and up 23.9% from 2018 (8.4 MMT); and for oats from 4 to 4.2 MMT, ahead of expectations (3.9 MMT) and up 21% from 2018 (3.4 MMT)

- Statistics Canada lowered its 2019 peas crop estimate to 4.2 MMT from 4.7 MMT in Sept, behind expectations of 4.5 MMT but up 18.3% from 2018 (3.6 MMT)

- Coceral trimmed forecast of EU-28’s 2019 corn crop to 61.486 MMT from 61.593 MMT previously, slightly up vs. 61.336 MMT in 2018       

- Coceral raised its estimate of EU-28’s 2019 barley crop to 62.109 MMT from 60.824 MMT, up from 55.986 MMT in 2018

SOYBEAN

- Dec 11 - USDA announced export sales of 725,000 MT of US soybeans for delivery during 2019/20 to China (585 TMT) and to unknown destinations (140 TMT)

- Dec 11 - Egypt's GASC cancelled tender to buy 10,000 MT optional-origin sunoil and 30,000 MT soyoil for Jan 20-Feb 10 arrival. Offers were:

  • Glencore: 12,000 MT of sunflower oil at 809 $/mt c&f;
  • Aston: 10,500 MT of sunflower oil at 778 $/mt c&f;
  • Hakan: 10,000 MT of sunflower oil at 797.33 $/mt c&f and 15,000 MT of soyoil at 814.33 $/mt c&f;
  • Tradefield: 10,000 MT of sunflower oil at 777.50 $/mt c&f;
  • ADM: 6,000 MT of sunflower oil at 797 $/mt c&f and 30,000 MT of soyoil at 826 $/mt c&f;
  • Alex Seeds: 20,000 MT of soyoil at 12,600 EGP/mt (781.15 $/mt);
  • Soyven: 6,000 MT of soyoil at 12,300 EGP/mt (762.55 $/mt)

- US soybean export inspections for week, ending Dec 5, reported 1,327,042 MT, within trade expectations (0.8-1.6 MMT). Inspections for the 2019/20 marketing year are running 21.9% ahead of year-ago

- USDA lifted forecast of global soybean production in 2019/20 by 0.9 MMT to 337.48 MMT, down 5.8% (or 20.73 MMT) from last year’s record, due to higher production in China. USDA lifted forecast of global soybean ending stocks by 0.98 MMT to 96.4 MMT by the end of 2019/20, down 13.4 MMT from record level of 2018/19 but above the average expectation (95.46 MMT)

- China imported 8.278 MMT of soybeans in November, up 54% from the year before. For the eleven months of 2019 imports fell to 78.969 MMT, down 4.1% from the same time a year ago

- China's imports of all vegetable oils in November was 1,059,000 MT up 70.3% on year. China's Jan-Oct vegetable oil imports climbed 55.5% on year to 8.629 MMT

- Chinese stats bureau estimated 2019 soybean production at 18.1 MMT, up 13.3% vs. last year's 15.95 MMT

- China's Ag Min raised its 2019/20 soybean import forecast to 87.68 MMT compared to the previous forecast of 86.2 MMT, also up vs. 82.75 MMT in 2018/19

- China's State Council statement announced that some of US Soybean and US Pork imports by Chinese companies would be exempted from import tariffs

- France's farm ministry estimates area sown with winter rapeseed for the 2020 harvest at 1.049 mln ha, down 4.9% from year ago and 26.8% below the five-year average

- Strategie Grains forecast that rapeseed production in the EU would reach 18.46 MMT next year, rebounding from a 13-year low of 16.85 MMT this year

- Strategie Grains forecast the EU's 2020/21 sunflower seed production at 9.62 MMT, up from an estimated 9.47 MMT in 2019/20

- Strategie Grains forecast the EU's 2020/21 soybean production at 2.69 MMT, up from an estimated 2.6 MMT in 2019/20

- Coceral cut its estimate of 2019 EU-28 rapeseed harvest to 17.078 MMT from 17.306 MMT previously, down 15% from 20.094 MMT in 2018   

- Statistics Canada lowered its 2019 crop estimate for soybeans to 6 MMT from 6.5 MMT in Sept, below average expectation of 6.1 MMT and down 18.5% from 2018 (7.4 MMT)

- Statistics Canada cut its 2019 canola crop estimate to 18.6 MMT from 19.4 MMT in Sept, below average expectation of 19.6 MMT and down 8.3% from 2018 (20.3 MMT)

- MPOB estimated Malaysian crude palm oil production in Nov at 1.538 MMT, below the average expectation of 1.61 MMT and down 14.4% from 1.796 MMT in Oct. Malaysia's palm oil stocks at end-Nov fell 4.1% from the previous month to 2.256 MMT, but above the average market expectation of 2.215 MMT. Malaysian Nov palm oil exports fell by 14.6% to 1.401 MMT, below the average expectation of 1.557 MMT

- Surveyor AmSpec Agri Malaysia estimated Malaysia's Dec 1-10 palm oil exports at 367,410 MT down 11.3% from a month ago

- SGS estimated Malaysia's Dec 1-10 palm oil exports at 376,659 MT down 11.4% from a month ago